Industry leaders remain upbeat

08 December 2015 - 02:25 By TMG digital

South Africa's industry leaders are still positive about the future, despite some of the harshest economic and business conditions for some time, according to a survey by leading executive search firm Jack Hammer. Moreover, they display a resilience that will be critical in keeping businesses moving forward in the coming year.The survey asked executives and managers in various sectors about their expectations for bonuses, increases and business growth in the new year."There is a common assumption that, with the markets being as challenging as they are, and with all the data on low business confidence, it will be doom and gloom all round," says Debbie Goodman-Bhyat, CEO of Jack Hammer."However, our most recent survey shows that, while it is certainly not business as usual, executives and middle managers still have an eye on growth and opportunity."This is reflected both in the assessment of their personal career circumstances, as well as their commercial sentiments for the coming year," she says.The survey polled top managers and executives in the mining, construction, industrial, retail, FMCG, manufacturing and oil and gas sectors. Respondents included directors of finance, supply chain heads, production managers, chief procurement officers and supply chain directors, African regional managers, operations directors and group accountants. The survey found that:36% of respondents were positive (lots of opportunity and growth potential) about the year ahead, with another 36% feeling quite positive (solid but tough environment). Only 28% expressed a negative sentiment, with little hope for growth;71% of respondents expected at the least, an inflation-linked salary increase, with 21% expecting an above-inflation increase, and only 28% expecting no increase at all;50% of respondents expected bonuses in line with or higher than previous years executives have greater expectations of receiving bonuses this year than do middle managers (71% vs 29%); and64% of respondents said if bonuses were below expectations, this would influence career decisions and they might start to look elsewhere. ..

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